Rosneft and Inpex link up for Okhotsk campaign

Russia’s Rosneft and Japan’s Inpex Corp. have signed a cooperation agreement that will see them jointly explore frontier licenses in the Russian Far East’s Sea of Okhotsk, to the north of the producing Sakhalin area.The companies will explore the Magadan-2 and Magadan- 3 blocks that lie in sub-Arctic waters. Estimated recoverable resources of the two blocks stand at 1,577 MM tonnes of oil equivalent (11.3 Bn boe).The agreement, signed by Igor Sechin, Rosneft President and Chairman of the Management Board, and Toshiaki Kitamura, President and CEO of Inpex, envisages cooperation...